- April 28, 2021
- Posted by: medium
- Category: National
The money that will be placed comes from a disbursement made by the World Bank in favor of the second floor entity, in 2020.
The National Financial Corporation (CFN) has signed 22 agreements with banks and cooperativesof Ecuador for the access ofLong -term productive financing for micro, small and medium enterprises (MSMEs) nationwide.
The idea It is to channel about $ 260 million from a World Bank credit, awarded in 2020, to different financial entities, such as ATuntaqui, Cooprogreso, Ambato, Mushuc Runa and the banks of Machala and Finca, among others.
So far more than $ 53.5 million to financial entities to provide long -term credits, which has allowed MSMEs toCced to convenient financing for reactivation. As more agreements are signed, more financing lines may continue to be granted.
Eduardo González, general manager of the CFN,He mentioned that the interest of a development bank is for the productive sector to progress, produce and specify its projects. “We will continue supporting them with financing according to their needs through second -floor credit lines forPromote a true productive reactivation, encourage the creation of employment places and strengthen export for the generation of currencies ”.
It is worth emphasizing that these funds are channeled from the CFN under the second -floor banking modality to financial institutionsthat comply with the environmental and social standards required within the project with the World Bank. For their part, IFIS with the resources assigned will be responsible for channeling credit to customers with the most favorable conditions in the market.
With this disbursement, the CFN takes up its essence of development banking in Ecuador and- with the Financing Project for MSMEs- will attend to better access opportunities especially to the vulnerable sectorsthat cover a broad percentage in terms of the MSMEs segment and that are considered the largest source of employment generation.